Lockhart refuses to confirm September, so December is now on the cards. AUDUSD 75 cents??
Jim Devonport
Compass Global Markets
AUDUSD: Started the week drifting lower as we headed towards the only event of the day, namely FOMC Lockhart’s speech. However a refusal by the FOMC member to confirm September had the local currency rally back. Domestic Business Confidence is our focus for the next 24 hours and we expect a pull back from last month’s strong number. On the charts the lows continue to hold, however we still need a break through last week’s highs to negate the downside potential. AUDEUR: With no data of note released we kept within the 3 day old range. However with business Confidence due from here and Germany, that is set to change. AUDGBP: The Pound strengthened here as comments overnight suggest the 8/1 MPC vote may well increase short term. Unemployment data isn’t due until tomorrow so we’ll expect the range to hold until then. AUDNZD: Held the range yesterday as there was no data released to give direction. Expect a shortterm reactionary spike to this morning’s Business Confidence, but not any real concerted move - at least not lower anyway. (VIEW LINK)
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Involved in the financial markets performing both sales and dealing roles since the mid 1980’s, Jim has a wealth of knowledge, experience and sales acumen that he uses to build and maintain long lasting business relationships.
Constantly travelling between the Australian and New Zealand offices, Jim’s primary aim is to assist business and high net worth clients on either side of the Tasman with their international money transfers and to effectively manage their foreign exchange risk. Jim happily does this with two main beliefs; the first is to not trying to make money from the financial markets, but protecting capital exposure by actively negating adverse market moves so thereby protecting your bottom line. The second is the use of a solid mix of spot and forward contracts, along with currency options when suitable, to help to create a watertight hedging strategy.
Jim is always glad to offer his guidance in any area of foreign exchange, or the financial markets as a whole, and welcomes the chance to meet with businesses or individuals for a brief chat or more detailed discussion.
Jim Devonport
E: jim@compassmarkets.com
T: 02 8039 1485
M: 0415 066 468
1 topic
Jim Devonport
Compass Global Markets
Involved in the financial markets performing both sales and dealing roles since the mid 1980’s, Jim has a wealth of knowledge, experience and sales acumen that he uses to build and maintain long lasting business relationships. Constantly...
Expertise
No areas of expertise
Jim Devonport
Compass Global Markets
Involved in the financial markets performing both sales and dealing roles since the mid 1980’s, Jim has a wealth of knowledge, experience and sales acumen that he uses to build and maintain long lasting business relationships. Constantly...
Expertise
No areas of expertise
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